US insurance and investment firm Prudential Financial has appointed Andrew Sullivan to succeed Stephen Pelletier as Executive Vice President and Head of US businesses.
Pelletier, who is set to retire after 27 years at the firm, is expected to stay on in an advisory capacity until 1 April 2020.
Sullivan’s appointment is effective December 1 and he will report Prudential Financial’s Chairman and Chief Executive Officer Charles Lowrey.
The company has also announced the appointments of three others including Phil Waldeck, who will succeed Sullivan as head of the Workplace Solutions Group.
Yanela Frias, current Head of Investment and Pension Solutions within the Retirement business, will be promoted to President of Prudential Retirement.
She will be succeeded by Scott Gaul, current Senior Vice President, Sales and Strategic Relationships, Prudential Retirement.
Dylan Tyson, current CEO of Prudential Taiwan, will become president of Prudential Annuities. His successor will be named upon receiving regulatory approval.
“Today’s appointments accelerate the momentum that the existing U.S. leadership team has created over the past several years,” said Lowery.
“Andy and his executive team will continue to bring a broader set of financial wellness solutions to more people in new ways.”
“Our conviction in this strategy, and the significant opportunity it represents for expanding our market reach, has never been stronger.”